Global Herbal Supplement Market

1. GLOBAL HERBAL SUPPLEMENT MARKET

2. HERBAL SUPPLEMENTS AND THEIR USES Immune Support Stress and Anxiety Relief Digestive Health Herbal supplements, such as Echinacea, are commonly utilized to bolster the immune system. They are believed to help enhance the body's natural defenses, potentially aiding in the prevention of common illnesses like colds and flu. Adaptogenic herbs, such as Ashwagandha, are frequently used to alleviate stress and anxiety. These supplements may help the body cope with stress by reducing cortisol levels and promoting a sense of calm and relaxation. Herbal supplements like Ginger and Peppermint are widely used to support digestive health. Ginger is known for its ability to reduce nausea and enhance overall digestive function, while Peppermint is often utilized for its soothing effects on the gastrointestinal tract. Cardiovascular Health Joint and Muscle Pain Relief Herbal supplements, such as Garlic, are commonly used to promote cardiovascular health. They are known for their potential to lower cholesterol levels, improve circulation, and reduce the risk of cardiovascular diseases. Herbal supplements like Turmeric, especially its active compound curcumin, are frequently used for their anti-inflammatory properties. These supplements can help alleviate pain and reduce inflammation in conditions such as arthritis and muscle soreness.

3. MARKET SIZE & FORECAST Global Herbal Supplement Market 2023 - 2030 (In $ Bn) The Global Herbal Supplement Market Analysis in 2023 was sized at $5.26 Bn and is expected to grow significantly, reaching $8.01 Bn by 2030, with a projected CAGR of 6.2% throughout the forecast period CAGR 6.2% 8.01 7.55 7.11 6.69 6.30 5.93 5.59 5.26 2023 2024F 2025F 2026F 2027F 2028F 2029F 2030F

4. GLOBAL SCENARIO OF HERBAL SUPPLEMENT U.S. leads in the herbal medicine market, followed by Europe, Australia, and Canada WHO reports that 75-80% of the global population relies on herbal medicines for primary health care Globally, 80% of the population uses herbs, with the rate reaching up to 95% in developing countries In Europe and North America, over 50% of the population have used herbal medicine at least once In the United States, approximately 158 million adults use herbal medicines, with usage steadily increasing In China, traditional herbal medicines account for 30-50% of total drug consumption In Canada, 70-90% of the population have used herbal medicines at least once In France and Germany, 70% of medical doctors regularly prescribe herbal medicine

5. DRIVERS AND RESTRAINTS MARKET DRIVERS Growing Geriatric Population: increasing number of elderly individuals is leading to a higher demand for health supplements as they seek to maintain their health and manage age-related issues MARKET RESTRAINTS Lack of Regulation and Standardization: absence of strict regulations and standardization in the herbal supplement industry leads to variations in product quality and safety, making it difficult for consumers to trust and consistently use these products Rising Chronic Diseases: prevalence of chronic diseases such as obesity and diabetes is prompting more people to turn to herbal supplements for natural and complementary treatment options Enhanced Consumer Awareness: greater awareness among consumers about health and wellness is driving the interest in preventive care and natural remedies, leading to a growing market for herbal supplements Affordable Synthetic Substitutes: availability of cheaper synthetic alternatives poses a significant challenge to the growth of herbal supplement market segments, as consumers may opt for these more cost-effective options over natural supplements

6. KEY PLAYERS